2008 – Page 73

Representatives from the Taiwanese company Motech Industries will be in the DR between the 22 and 24 of October to discuss potential investment opportunities in the area of alternative energy, especially solar power. Motech was ranked sixth in the world in solar cell production in 2007. Chu-liang Chang and Ken-ti Hu will work with the …

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Dominican Exporters’ Association (ADOPEX) president Ricardo Koenig says that products like rum, tobacco and bananas will enter the European markets with ease following the signing of the European Partnership Agreement between the DR, Caricom and the European Union in Barbados this week. The agreement still needs to be ratified by Congress. Koenig explained the rules …

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The Ministry of Environment has ordered all block or concrete constructions recently built on Saona Island in the National Park of the East to be demolished, as reported in Clave newspaper this week. Saona, a 112km2 island, receives 400,000 visitors a year and has a population of just 180 inhabitants. Only wooden structures are permitted. …

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General Prosecutor Ramon Jimenez Pena chose to avoid speaking to the press and instead issued a press release explaining why he authorized an assistant prosecutor to issue a no-objection statement in response to a petition from former Bancredito bankers Arturo Pellerano and Felipe Mendoza’s defense lawyers for dropping a General Prosecutor’s Office case against them. …

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Former Central Bank director Gullermo Caram says the government could counteract reduced revenue levels by revising subsidies and renegotiating the foreign debt. Caram is also calling for a rigorous austerity plan. Caram said that a drop in revenue could have been predicted. Hacienda Minster Vicente Bengoa made the announcement about reduced revenue levels yesterday. Caram …

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Former president of the Dominican Petroleum Refinery Leopoldo Espaillat Nanita is asking the government to disclose the real purchase price of Venezuelan-sourced fuel. Espaillat says it is ridiculous that while the DR buys its fuel from Venezuela it uses prices of the West Texas Intermediate as a reference point for setting prices here. Espaillat said …

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Cemex Dominicana, a subsidiary of Cementos Mexicanos, says it is restructuring in response to the international financial crisis. The company will have to reduce international operating costs by US$500 million this year, because international sales have dropped 5%. Cemex Dominicana spokesperson Julissa Baez says the company is seeking more flexibility. She says that the global …

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Industrialists say that activity in the DR has decreased by 40% due to three factors: the excessive spending on the recent presidential elections, the lack of money in circulation and the financial crisis in the US. Ignacio Mendez, president of the Federation of Industrial Associations says that overall revenue is down. He says that associates …

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According to a study by UNICEF and the National Statistics Office (ONE), 90 out of 100 children in the DR have experienced some type of violence and 13 out of every 100 children under the age of 14 was not registered at birth. The study of Dominican youth covers a twenty-year period between 1986 and …

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Helados Bon, the ice cream, juice and marmelade company, makes it easy for all to contribute to the forests of the Dominican Republic. The ice cream company that produces delicious organic chocolate ice cream and an organic chocolate ice cream with macadamias, supports the preservation of the rain forests on the Quita Espuela mountain in …

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